Wednesday, February 8, 2023
    HomeMarketGLM outperforms the broader market and rallies by 42% on Monday

    GLM outperforms the broader market and rallies by 42% on Monday


    Golem is at the moment the very best performer amongst the main 100 cryptocurrencies on Monday.

    GLM, the native token of the Golem ecosystem, is setting the development on Monday, as it’s outperforming the broader cryptocurrency market. 

    The broader market added 1% to its worth on Monday, with the entire market cap nonetheless above $1 trillion.

    Bitcoin has climbed above the $22k resistance stage after rallying by greater than 11% over the previous seven days. Ether is down by greater than 1% within the final 24 hours and is buying and selling round $1,700 regardless of the Merge getting nearer.

    GLM is the very best performer amongst the highest 100 cryptocurrencies on Monday. GLM has added greater than 40% to its worth up to now immediately and is buying and selling at $0.419 per coin. There isn’t any speedy catalyst behind this rally. There isn’t any upcoming occasion within the Golem ecosystem 

    Key ranges to observe

    The GLM/USD 4-hour chart is extraordinarily bullish as Golem has been performing positively over the past 24 hours. The technical indicators present that GOLEM is outperforming the broader crypto market for the time being.

    The MACD line is deep throughout the constructive territory, indicating bullish momentum. It has been inside that area since September 8, indicating that the bulls are at the moment answerable for the market.

    The 14-day relative power index of 80 exhibits that GLM will quickly enter the overbought area if the rally continues.

    If the bulls proceed to be in cost, GLM may surge previous the primary main resistance stage at $0.51 earlier than the tip of the day. Within the occasion of an prolonged bullish run, GLM may surge previous the $0.60 resistance stage for the primary time for the reason that begin of the yr.

    We’re nonetheless in a bearish market, and the bears may regain partial management. If that occurs, GLM may slip under the $0.40 psychological stage over the subsequent few hours.

    Nonetheless, GLM ought to comfortably defend its place above the $0.36 assist stage within the close to time period. 


    Binance is likely one of the largest cryptocurrency exchanges on the earth. It’s higher suited to extra skilled buyers and it gives numerous cryptocurrencies to select from, at over 600.

    Binance can also be recognized for having low buying and selling charges and a a number of of buying and selling choices that its customers can profit from, akin to; peer-to-peer buying and selling, margin buying and selling and spot buying and selling.

    Buy GLM with Binance today


    WazirX is India’s largest crypto change. Began in 2018, WazirX has grown to be probably the most trusted change within the Indian crypto market. It is part of the binance group, serving customers in 180 nations.

    Buy GLM with Wazirx today

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